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(Boston) — Clarissa (Lila) Hunnewell, former managing director for Cambridge Associates LLC, has been selected as Boston University’s chief investment officer, announced BU President Robert A. Brown. Starting May 4, Hunnewell will manage the day-to-day oversight of a $1 billion-plus endowment.
“It is a pleasure to have Lila join the Boston University leadership. She is a very well-respected investor who deeply understands the roles of endowments in universities,” said Brown. “Lila brings a level of experience to Boston University that will lead both the continued growth of our endowment and the role of the Investment Office in stewarding our financial assets.”
A member of Cambridge Associates since 1991, Hunnewell’s clients have included a $650 million educational institution, a children’s hospital-cum-research institution, pension funds, and a range of educational, cultural, religious and conservation groups. Working with clients holding up to $1.8 billion in assets, those clients earned investment returns from 11 to 15 percent in fiscal year 2010.
“I’m excited to join such a vibrant community that’s working together to meet its new strategic plan, and to build upon the terrific accomplishments of the current investment staff,” said Hunnewell. “As the global economy improves, there’s still plenty of uncertainty and the challenge is to keep the balances that have been built into the portfolio, to deal with the uncertainties, robust and fresh.”
Hunnewell replaces Pamela Peedin, who in 2007, was appointed the University’s first-ever CIO before leaving to helm the investment office at her alma mater, Dartmouth College.
Hunnewell graduated magna cum laude with a B.A. in economics from Princeton University and later earned her MBA from the Harvard Business School, graduating summa cum laude.
About Cambridge Associates
Cambridge Associates is a privately held independent consulting firm that provides consulting and investment oversight services to more than 900 clients worldwide. The company strives to help global institutional investors and private clients meet or exceed their investment objectives by offering proactive, unbiased advice grounded in intensive and independent research.
About Boston University
Founded in 1839, Boston University is an internationally recognized private research university with more than 30,000 students participating in undergraduate, graduate, and professional programs. BU consists of 17 colleges and schools along with a number of multi-disciplinary centers and institutes which are central to the school’s research and teaching mission.